Energy Transfer terminates proposed merger with Williams

Energy Transfer Equity has terminated its proposed $37.7 billion merger with Williams Companies. Via FuelFix, it marks the end of a contentious relationship between the two firms marked by buyers’ remorse and legal disputes. Williams sued Energy Transfer in April and a judge last week ruled that Energy Transfer could end the deal. Williams is expected to appeal that decision.

First announced in September, the merger would have given Energy Transfer an attractive position in the Northeast NGLs market. It was the second largest energy deal announced in 2015, following only Shell’s $70 billion acquisition of BG Group.